Sweden Sells Beam Stake to Fortune Brands

Sweden has officially agreed to sell its 10% stake in Beam Global to parent company Fortune Brands for $466 million. Fortune now owns 100% of Beam. Pernod struck a deal in March to acquire Vin & Sprit from the Swedish government, but did not purchase V&S’s 10% stake in Beam Global, Absolut’s U.S. distributor owned by Fortune.Since then, Fortune had been looking to exercise a clause allowing it to buy the V&S stake, although the companies initially failed to agree